4H candle scalping. MT4 expert advisor by TheForexKings (Revised)
4H candle scalping MT4 Expert advisor
EA was originally developed to trade and scalp in 4H chart. During our standar historical test system achieved great results also in 1H chart of EURUSD. EA is based on conservative forex trading rules. CCI indicator is used to accurately define trend momentum while avoiding indecisive price patterns in trading range. High/Low of strong momentum candle is used for pending orders placement. Triggering of the order can be therefore considered a confirmation of momentum signal(surpassing previous high/low). To achieve best results, each entry is followed by advanced trailing stop recalculated on each candle close.
How does it work
Expert advisor defines trend and momentum using CCI indicators ( sell below and buy above zones). The channel in the middle o CCI creates no trade range, with lack of trend and momentum. Signal candle is defined by body width (min - max). Upon the signal candle close, pending buy/sell order is placed on newly created high/low. Triggering the order further confirms momentum. Trailing stop is placed immediately upon entry, together with target profit. Untriggered orders will remain valid for as long as user defines ( stay valid period in inputs).
Inputs
- Commodity channel index (CCI 200) High calculation period is used together with buy above / sell below zone. The zone in the middle becomes no trade zone, typical with indecisive market momentum signalizing market range. Range will be avoided in this momentum based trading system.
- Signal candle (60 – 150 pips). Candle with defined range. It is closing in the direction of CCI defined trend. Pending order is placed at its low (sell) or at its high (buy).
- Stop loss / trailing stop (extra deviation 70 pips). Placed at opposing end of signal candle. Extra deviation can be applied to cover some unexpected moves. It will be adjusted with each following candle in the direction of profitable trade.
- Stay valid (2 days): Each untriggered pending order will remain valid for defined number of days.
Rules
SELL
- CCI trending below sell below zone (-25 in test). Downtrend.
- We will be looking for bearish candle with defined range. Once it closes, we place pending sell stop order at its low. The order will remain valid for 2 days.
- Trailing stop loss is placed at the high of the signal candle + extra deviation.
- Take profit: 30 pips
BUY
- CCI trending above buy above zone (25 in test). Uptrend.
- We will be looking for bullish candle with defined range. Once it closes, we place pending buy stop order at its high. The order will remain valid for 2 days.
- Trailing stop loss is placed at the low of the signal candle - extra deviation.
- Take profit: 30 pips
Expert advisor is based on transparent and fully tested forex strategy.
Original and transparent MT4 expert advisor. Developed and created by professional FOREX traders at kingsraid.wiki . Tested for profitability on EURUSD data since 2003. Thousands of viable input combinations available for EURUSD alone. Works with any timeframe and any FX pair.
Main features of this expert advisor:
- Tested on high quality data: High accuracy testing on EURUSD data (1H). 100+ Viable inputs combinations for EURUSD pair alone.
- All inputs unlocked: You can adjust and modify your expert inputs. It can be then applied on any time frame and any currency pair. You can modify the settings at will to achieve the best possible results and make the expert suit your needs.
- Transparent expert advisor: No smoke and mirrors. Rules are clearly stated and functionality can be easily verified by manual charting on forward or historical data.
- Works with most of the MT4 Forex brokers: Our expert advisors were adjusted to work with almost any MT4 FOREX broker.
- Works with any time frame: Simply drag and drop the expert on time frames you would like to use.
- Works on any currency pair
- Expert advisor will not draw any indicators in your chart.
Disclaimer and user agreement:
Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
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MT4 Expert advisor will work according to the description.You Backtest will match results of our backtest (using same test and inputs ). Expert advisor will work with your broker.
30 day money back guarantee.If expert doesnt closely match our test results, run the same test (timeframe, inputs, type).Send us the report. Allow few days to analyze and refund.
One time payment secured by PayPal. Lifetime license. FREE updates and support. You will recieve link for EX4 file immediately after the purchase. Download link will be also send to your email.
Easy, drag and drop installation.
You will recieve EX4 file is ready to use. Copy the file into your MT4 Expert advisors folder and restart the platform.
ABOUT US
THEFOREXKINGS
“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.”
“Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ”
— Marian, Proprietor of kingsraid.wiki
DEVELOPED BY PROFESSIONALS
We are experienced Forex traders and developers, trading consistently since 2006. We have developed hundreds expert advisors both for ourselves and our clients. We know what works and what doesn't in the FOREX .
TRANSPARENCY
OF RULES
Each system is published with total transparency. Rules are stated in full. Each trader can verify system results by simply applying the rules on his chart. No smoke and mirrors, no overpriced secrets.
TESTED WITH
HIGH ACCURACY
Each of our systems is tested on more than a decade of high quality historical data. Each system must be robust enough, to have at least 100+ profitable inputs combinations. We use very robust candle based testing model (results are not dependent on unstable tick data).
200+ MT4 Expert Advisors
Only during 2016 - 2017 we have created (and published), more than 200 unique expert advisors. To be able to create 200 historically profitable EAs we had to create upwards to 400 other trading robots that failed our tests.This makes us one of the most prolific developer of trading systems in the world.
WIDE VARIETY
OF SYSTEMS
We do not discriminate. We test and produce all types of systems believing that there are countless ways to profit in the forex market. From ultra aggressive systems to conservative systems that will open a trade only once or twice per year.
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